German company Catalis N.V. has put in a £4.4 million ($8.6 million) offer for Surrey, UK-based Kuju Entertainment.
The offer price was made at 25p (50 cents) a share, and the takeover has been recommended for approval to shareholders of Catalis by the board of directors. Irrevocable acceptances have been obtained representing 54.6 percent of the share capital. The investment company also owns QA companies Testronic Laboratories, PMTC, and IQC.
Kuju was founded in 1990 and operates six studios in the UK, including Brighton, London, and Sheffield. Titles developed by the company include Buzz! The Sports Quiz, SingStar Anthems, Sensible Soccer, and Call of Duty: Finest Hour. Kuju's turnover (revenues) for the year ended March 2006 was 3.9 million euros ($5.1 million.)
Catalis reps commented in a statement, "Kuju has a good strategic fit with Catalis, operating in complementary markets. The combination of Catalis with Kuju creates an opportunity to take advantage of the trends towards scale and outsourcing in the digital media industry."
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